In a bold speech at the Hertie School in Berlin, ECB chief Christine Lagarde laid out her visionary plan for the euro. She stressed that while the euro holds around 20% of global foreign exchange reserves, its influence is far from guaranteed—and the U.S. dollar's era is showing signs of waning. 🚀
Lagarde warned that the current fragmentation in the international system could bring serious risks to Europe, but also sees it as an opportunity for the euro to shine globally. A stronger euro could mean lower borrowing costs, more resilient economies, and a boost in internal demand across the euro area.
She outlined three key pillars for this transformation: a steadfast commitment to open trade with reliable security measures, a robust economic foundation to attract global capital, and a reinforced legal framework that upholds the rule of law. With the U.S. dollar’s share in global reserves falling to its lowest level since 1994, thanks to central banks accumulating gold, the stage is set for what Lagarde calls a "global euro moment."
This dynamic outlook not only invites a fresh chapter for Europe but also inspires a shift in global finance. The future might very well be more Euro-chic! 🌍
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ECB chief calls for stronger role of euro, points to dollar decline
cgtn.com
